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Results: 1-10 of 403

New York State Court denies motion to compel discovery of reinsurance and reserve information

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 29 2010

In Mt. McKinley Ins. Co. v. Corning Inc., 2010 NY Slip Op 20235 (N.Y. Sup. Ct. June 14, 2010), an insured (“Corning”) moved to compel discovery of reinsurance and reserve information from its insurers, arguing that this information was relevant, material and necessary to its coverage claim

Virginia court follows First Circuit’s Genzyme reasoning, rejects carrier’s bid to recoup $15mm D&O payout

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • December 17 2010

Following the reasoning of the First Circuit in its Genzyme decision, a federal court in Virginia has granted summary judgment to an insured whose carrier had sued to recoup a $15 million settlement under a D&O policy

New York adopts revisions to Regulation 118 governing audited financial statements

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 12 2010

On December 28, 2009, the New York Insurance Department ("NYID") issued a Notice of Emergency adoption revising Regulation 118 to implement new audit and reporting standards on an emergency basis

Third Circuit revives limited portions of in re: insurance brokerage antitrust litigation (MDL 1663)

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • August 18 2010

Nearly three years after a federal district court dismissed with prejudice a nationwide class action alleging antitrust and RICO claims against insurers and brokers in connection with contingent commission arrangements, the Third Circuit Court of Appeals has revived a limited swath of plaintiffs' claims

Judge orders insurer to cover R. Allen Stanford's defense costs

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • February 17 2010

According to the Houston Chronicle, U.S. District Judge David Hittner, who is presiding over R. Allen Stanford's criminal proceeding, has ordered Lloyd's of London to pay for the criminal defense attorneys defending Mr. Stanford and two other officers of his company who were recently indicted for allegedly running a $7 billion Ponzi scheme

U.S. Securities and Exchange Commission brings civil action against former New Century executives

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 6 2010

On December 7, 2009, the SEC charged three former executives of New Century Financial Corporation with securities fraud

Connecticut District Court: insurer's default judgment does not necessarily preclude litigation in subrogation action

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 12 2010

A Connecticut District Court recently held that plaintiffs, who brought a subrogation action to recover a judgment entered in their favor in an underlying legal malpractice action against their attorneys, were entitled to litigate coverage issues even though the attorneys' insurer obtained a default judgment against the attorneys in a separate coverage action

Ninth Circuit affirms ruling that reinsurer has no duty to contribute to settlement payment where reinsured excess policy was not triggered

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 2 2010

Texas Farmers Insurance Company ("Texas Farmers") issued claims-made insurance policies (transformed into occurrence-based policies through endorsement) to Kaiser Permanente, a medical facility, for the policy periods of 4999-4900, 4900-4901, and 4901-4902

Rhode Island 2011 budget - tax implications for surplus lines insurers and medical malpractice joint underwriters association

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • June 16 2010

The 2011 Rhode Island state budget, which was enacted as HB 7397A and signed into law June 2, 2010, amends the taxation statutes applicable to surplus lines insurers and the Medical Malpractice Joint Underwriters Association

CMS proposes changes to “36 month rule” for Home Health

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • August 9 2010

In late July, the Centers for Medicare and Medicaid Services (CMS) published a proposed rule for the Medicare Home Health Prospective Payment System (HH PPS) Rate Update for Calendar Year 2011